Citi Boosts Short-Term Gold Price Target to $4,800 Amid Inflation Fears

Citi has increased its gold price target to $4,800 per ounce for the next three months. The bank initially set this target at $4,500 but revised it upwards after reassessing market conditions.

The six-to-twelve-month target remains unchanged at $5,000 per ounce.

This move comes amidst growing concerns over inflation and fiscal deficits in various markets, including the U.S. stock market. Despite these challenges, Cantor Fitzgerald analyst Eric Johnston is optimistic about the tech sector's prospects heading into year-end.